University of Miami Receives $100 Million for Science, Engineering

February 9, 2016

The has announced a $100 million gift from Phillip and Patricia Frost in support of basic and applied sciences and engineering programs.

Announcing the gift during his inaugural address as the university's sixth and newest president, Dr. Julio Frenk said the gift would be used to help achieve his goal of attracting a hundred endowed faculty chairs university-wide over the next decade. Formerly the dean of faculty at Harvard University's and a senior fellow at the , Frenk succeeds former Health and Human Services secretary Donna Shalala, who stepped down as UM president in March to lead the .

Phillip Frost, a former chair of the Department of Dermatology at Mt. Sinai Medical Center of Greater Miami, has led several pharmaceutical companies and currently serves as CEO and chair of Opko Health. In 2003, the Frosts gave $33 million to name the university's . The couple also are the top donors to the , which has run out of funds for construction of its new building and is seeking help from Miami-Dade County.

"They have made our journey possible," Frenk said of the Frosts, "and they will lead the way to our future."